MEETINGS OF CREDITORS.

Otago Witness, Issue 956, 16 May 1889, Page 13

MEETINGS OF CREDITORS.

/ /' f 'M(/.'-mflß;' '• ' * '.iVrl

A meeting of the creditor* of John Lindsay Weir, eoiamisaion agent, placer at the office of the official assignee on Monday morning. There were present Mr J. Macgregor (who represented several ewditoro), Mr J. L. Clarke, and Mr Calvert (who aj»pe&red for the bankrupt).' The bankrupt* statement s-Unseenred.'creditora; 1 £7? 13ji Id ; liabilities to secured creditors. £W>; estimated value of, teenrity, £80 ; assets, £40. The; unsecured creditors arc 1 W. Patersoo (Fuerua), £\9 6s Id ; P. Keddie (Baloltrtfca), £15 165 ; A. Farquhsr (Stirling), £14 10«ld ; Dabioelt and Yooner (Catlin'i Biver),£l2 3s9d; E. Tullooh ißbmahapa), £o 18s lOd ; Dunedin City and Suburban* Coal Company, £l 7s '6d. The secured, creditor was Mr W. D. Stewart, the amount of the indebtedness being £40, ' and the security valued at £80. The ' assets cdnstot. of furniture valued at £20, and surplus from secured creditor £40. , , ■. The bankrupt, examined by Mr- Maogregor; said that the money he owed Messrs Farquhar and Paterson was for goods received and sold on com mission; The goods were sold, and the money received for them. • The money went into the whole estatev He was in the habit of settling once a month, but in these cases he bad not done so. He had paid none of the amounts in the sohedule to Paterson and Farquhar. He had had previous dealings with these two creditors, and he ■ also had goods in hand belonging to Paterson, which, he had sold after faterspn had sued him. He did noi pay Paterson the money he received, for these goods, and did not offer to return the goods. ' He had kept no trust account, but bsd treated all ■ money* received as bis own. Some of the debt* were for goods sold on commission,' and the, amount, • due to fiabinett and Young was for a balance in the same way. Paterson had sent him an account to pay out of the proceeds of these goods, and he bad gone three times to pay it, but had not paid it. unce the people did not know that; anything was owing,' and another time they could not And the account. He might have represented to Pateraon that he had paid this account, but did not think he had done so. • He' could not remember whether he had charged Paterton with the amount. The bankrupt then said that he would not have got into this trouble at all, only that he had expected assistance from the old country. When he found himself getting into -trouble he had written Home, and if creditors ' would take what there was now— the balance of the security,— he believed that within two months he could pay them all 20s in the pound. He had nodoubt he could get the money. It bad been left to him, but not wanting it he bad not claimed it at the time. He felt bis position, and would be only too willing when the money arrived to pay his creditors' in full. He had no 1 doubt he would get the money. In February last he bad bought butter, and had lost heavily on it, and this had brought him into financial difficulties. The j Official Assignee said the amount of the indebtedness was not large, but it seemed to him that the fact of money, being received by the debtor on account of othera and deliberately used by him for his own purposes would cause the case to go very hard against the debtor if he applied for an order of discharge/ The Bankrupt said he did not wish to apply for a discharge ; if the creditors would only wait they would .all be paid in full. The Official Assignee -said that of course they would soon find out whether there was anything in this statement. If it was correct it would gq in mitigation of what had been done, but they all knew how uncertain were expectations of this kind. Mr Calvert remarked that the bankrupt expected this money, but that he did not think he had my legal claim to it. The amounts due by the debtor were only balances, he had been paying monty to these people from- time to time. It was not a matter of receiving certain consignments and failing to account for them.

The Official Assignee said that no motion could be made as there was not a quorum of creditors prpsent, and that the meeting would consequently stand adjourned until the following, day, The .meeting was adjourned accordingly.

! Bs B. H. Dovnoily. ' Among the list of insolvencies filed at Ohristohuroh last -Week is that of Robert Henry Dounolly, pro- . prietor of the Palace Skating Rinks at Dunedin.apd Ohristohuroh. His statement shows the amount due to 1 unsecured creditors to be #2046 it Bd, and the assets £40, leaving a deficiency of £2006 4s Bd. The unsecured creditors in' Dune din are.— Olark and Thompson, £4 11b lOd ; Evening Herald, £12 ,9s 6d ; Oorrigan, £10 ; Daily Times, £19 7s ; Eatbgate, £3 . 13s 6d; Stanford and Milne, £20 ; 1). Scott, £2 15* ; M'G.. Wright, £6; Oaxton Prfntiog Company; £40 16s 6d'; Evening Star,' £s l4s ; Engineers' Band, £42 ; Crawford and Watson,'£l7s ; N. Y. Wales, £10. ,The secured creditors are s— Bauk of Australasia (aecurity, valued^ as a going .concern.) about ,e,qual to debt),. £3305 : Henry Benjamin (security, valued as, a going cera about equal to debt),. £l2oo. The statement laid on the table at the meeting, of Mr B. H, , Donnolly's creditors at Chrisfcchurch .on . Tuesday, afternoon " showed the amount received during the 15 months, immediately preceding filing, to be £7938 , 138 6d. This included a profit on the Christchurch rink of £968 13s lOd ; on the Dunedin rink, of £820 ; on the Nelspn rink, of £230 aad profit on skates, £103 8s Id. This bad tfeen disbursed. The amount paid in connection with the Christchurch rink was £5089 14s id. In his statement bankrupt accounted for his losses by the cost' of tfie Ohristchurch rink, which was as stated above, and was only taken into , aocount at £3200, and other matters which, .made, a total deficiency of £2000, after taking , into account the profits oq rinks, on skates, and the aniount put in by bankrupt himself. When, he came here he had £4000.